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. >> we have massive deficits, a big tax increase that no apparent willingness to get governnt off people's backs by reducing government spending, and all of that is a heavy, heavy weight on the private sector. firms around the nation are sitting on cash instead of creating jobs. >> reporter: on wednesday the commerce department announced economic growth actually fell to a-10% the last three months of last year, the chairman of the president's council of economic advisers says other indicators remain positive. >> consumer spending increased. business investment. residential construction. >> reporter: the jobs report showed a larger number of people dropped out of the labour force than down jobs. a former administration economist says some of that is to be expected. >> the population is aging, so we expect to have a fair number of people retiring every month for the next ten years or more as the baby boomers retire. >> reporter: the conference board reports a sharp increase in the number of older workers considering delaying retirement, which could make it more difficult for young people to
. >> we have massive deficits, a big tax increase that no apparent willingness to get governnt off people's backs by reducing government spending, and all of that is a heavy, heavy weight on the private sector. firms around the nation are sitting on cash instead of creating jobs. >> reporter: on wednesday the commerce department announced economic growth actually fell to a-10% the last three months of last year, the chairman of the president's council of economic advisers says other...
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Feb 7, 2013
02/13
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us to invest in those things that we need to grow right now because that's also a deficit reduction agenda that's growing faster. and in order to have a balanced package that means that we've already done a lot of cuts. we've done some revenue now, and so the rest of the way moving forward we can do some additional reforms and make our health care programs work better and make them more efficient, and we can cut out programs that we don't need, but it also means that we've got to be able to close some tax loopholes and deductions that the average american cannot take advantage of, to raise the revenue, to actually do the job in a way that allows us to continue to grow. now, the reason this is relevant is because i gather and i haven't gotten this from first-hand sources, but from second hand sources in the press that our friends on the other side of the aisle, their position is we're concerned about the sequester. we recognize that just cutting the federal spending with the meat ax as opposed to scalpel is probably damaging and will damage our national security and will damage our e
us to invest in those things that we need to grow right now because that's also a deficit reduction agenda that's growing faster. and in order to have a balanced package that means that we've already done a lot of cuts. we've done some revenue now, and so the rest of the way moving forward we can do some additional reforms and make our health care programs work better and make them more efficient, and we can cut out programs that we don't need, but it also means that we've got to be able to...
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Feb 5, 2013
02/13
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FOXNEWS
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under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next ten years u.s. debt will increase $10 trillion from a little more than 16 trillion-dollar now to more than $26 trillion in 2023. >> you can't raise enough tax to say pay for this problem. you won't grow fast enough to get rid of this problem. you ultimately have to deal with spending. >> after 2023, the debt begins to soar. >> after that it's going to grow and reach the trillion and go beyond the trillion. so at no point in the foreseeable future is the deficit going to come down to manageable level. >> noting repeatedly high debts are bad and dangerous as he put
under current law the deficit will shrink in 2013. as an estimated $845 billion, the deficit, the first in five years below $1 trillion. >> the cbo projects deficits to decline from $845 billion to year to as low as 430 billion in 2015 but then 978 billion a year by 2023. >> in 2014 or 15 the deficit will come down. there's a tax increase we just passed. that combines to produce a smaller deficit. >> though the president has not submitted his budget, the cbo projects the next...
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Feb 6, 2013
02/13
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we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you think about the single mom working 12 hours a day and her paycheck does not take her to the end of the month on food. what she realizes and has been a responsible mom, but realizes after she makes the decision to have her child not have an abortion is that her paycheck is not going to help her feed her infant. the women infant children program not only feeds these families, it also teaches them about nutrition and how to be healther and live healthier lives. this is important for families and the economy. we are helping people stay healthy longer and one of
we should bring the deficit down, but we have time. we should take the cuts off the table and think about how to get the economy going. if people work again, we are on the road to solving the problem. >> to that point and looking at the cuts you have been pointing out to head start and cuts to wic, the women, infant and children nutritional assistant program, they are penny wise and foolish and may be making things worse in the long run. >> i'm glad you raised that, crystal. if you...
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well it might have been but you know also our trade deficit got a lot bigger and that subtracted from g.d.p. that is a problem that's only going to get worse and you know think about this we've had a tax increase on everybody here in two thousand and thirteen so i'm eric is going to be paying higher taxes i think we're going to have a larger not smaller budget deficits so i think two thousand and twelve might be the high point of the obama term and you know obama often talked about the lousy economy he inherited from bush well now he's dealing with a lousy economy he inherited from himself and i think whoever succeeds succeeds bush i mean obama the next president is going. actually inherit a worse economy than either did in his first term i think the obama recession is going to be much worse than the obama recovery and you know the obama recovery has been the weakest recovery ever you can imagine how bad the recession is going to be that's certainly a scary thought for a lot of people that are hoping and praying that we do not have another recession like the one that we just got out o
well it might have been but you know also our trade deficit got a lot bigger and that subtracted from g.d.p. that is a problem that's only going to get worse and you know think about this we've had a tax increase on everybody here in two thousand and thirteen so i'm eric is going to be paying higher taxes i think we're going to have a larger not smaller budget deficits so i think two thousand and twelve might be the high point of the obama term and you know obama often talked about the lousy...
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Feb 1, 2013
02/13
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we talk about budget deficits and trade deficits, things we can measure. what i'm talking about is a breakdown of trust in american society, in particular in the institutions that make our economy go. when you look at measures of trust from surveys by gallup or pew that americans have been some very important institutions including the media, newspapers, television, congress, banks, or corporations, public schools, public unions, they have all been going down for many years. for a lot of them, this decline in trust intensified leading up to and going into the. financial the there are a lot of reasons for these things we could talk about. what i am getting at in this story is this matters to the economy when trust breaks down. a nobel prize-winning economist named arrow said 40 years ago every commercial transaction has within it an element of trust. when you trust your counterpart, you are more likely to engage in that transaction. when people become suspicious of each other and each other's intentions, it has a way of slowing down economic -- of holding b
we talk about budget deficits and trade deficits, things we can measure. what i'm talking about is a breakdown of trust in american society, in particular in the institutions that make our economy go. when you look at measures of trust from surveys by gallup or pew that americans have been some very important institutions including the media, newspapers, television, congress, banks, or corporations, public schools, public unions, they have all been going down for many years. for a lot of them,...
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Feb 2, 2013
02/13
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but increasing taxes a bit, not coming to the big deficit deal. the private sector and even the markets don't seem all that concerned. the last week should cause a lot of people in washington to re-think what they're doing. i am not optimistic that will happen. joining me now, former economic adviser to vice president joe biden, jared bernstein, a man who is always re-thinking what he is doing, how are you? >> i'm fine, ezra. >> and what else did you see in the reports? you got a good eye, what caught yours? >> one thing i saw was the revisions to last year's employment growth was such that i thought we were adding 150,000 jobs a month in 2012. i thought it was okay. turns out we're adding 180,000 jobs per month last year. so we did a bit better. over 2 million jobs on the year. now on the gdp side, most economists, don't think it will stick. i think it it volatility, i think there were unusual things that happened. in the quarter to quarter changes, it is better to look year over year. >> and do you mean what happens in a month or two we'll get t
but increasing taxes a bit, not coming to the big deficit deal. the private sector and even the markets don't seem all that concerned. the last week should cause a lot of people in washington to re-think what they're doing. i am not optimistic that will happen. joining me now, former economic adviser to vice president joe biden, jared bernstein, a man who is always re-thinking what he is doing, how are you? >> i'm fine, ezra. >> and what else did you see in the reports? you got a...
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Feb 6, 2013
02/13
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not only have they failed to come together around a big plan to reduce the deficit. they have also failed in their basic responsibility to pass appropriations bills. how we fund the government each year. we are operating today, continuing resolution on appropriations, because they failed to pass appropriations bills. the last time that congress passed all the appropriations bills and timeless 1994. it was in 1994. that is a basic responsibility. to be able to fund the government. my fear is that there is a dangerous and callous attitude that is developing among some republicans and some democrats. that these danhat these dangeroe allowed to take place in order to blame the other party or the consequences. this is a kind of so what attitude. it says let's see how bad it can get. in order to have the other party blink. i have seen that attitude before. it was the same attitude that led to a government shutdown in 1995. the same attitude. the other side will blink. even though it will hurt people. even if it's going to hurt our citizens or our security. this is a good w
not only have they failed to come together around a big plan to reduce the deficit. they have also failed in their basic responsibility to pass appropriations bills. how we fund the government each year. we are operating today, continuing resolution on appropriations, because they failed to pass appropriations bills. the last time that congress passed all the appropriations bills and timeless 1994. it was in 1994. that is a basic responsibility. to be able to fund the government. my fear is...
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Feb 7, 2013
02/13
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american people understand -- i believe the american people understand that, yes, we need to reduce the deficit, but it shouldn't just be on the backs of seniors. it shouldn't be just on the backs of young people who are trying to get a college education. it should not be on the backs of parents who are trying to give their kids a better start in life. that all of us have to participate and that, in fact, it's important for us to make sure we've got a strong national defense and that we reduce our spending in a smart way. those of us who are luckiest in the society to close a few loopholes and deductions that the average american doesn't get. if that's the choice that we've got, i promise you we can win that debate because we're on the right side of this argument. i hope -- i expect that you guys will be with me on that. last point i'll make, obviously economic growth is a priority. making sure that we're opening up opportunity for everybody is also important. that's why emgregs reform is so critical. i said this is going to be a top priority and an early priority of my administration. i am hea
american people understand -- i believe the american people understand that, yes, we need to reduce the deficit, but it shouldn't just be on the backs of seniors. it shouldn't be just on the backs of young people who are trying to get a college education. it should not be on the backs of parents who are trying to give their kids a better start in life. that all of us have to participate and that, in fact, it's important for us to make sure we've got a strong national defense and that we reduce...
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Feb 7, 2013
02/13
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you addressed it today in terms of trust deficit, you said that was unacceptable. you would give straight answers and be blunt and candid. it is not a prerequisite to do that to be director of c.i.a. so i don't hold that as -- it would probably be a red flag if someone had that award and wanted your position. the kind of issues you have to deal with require straight talk, straight answers, and getting to the chase real quickly. you said it is the new jersey way, i accept that, it is bipartisan. governor christie exhibits the same kind of responses and has a pretty high approval rating. so we will go forward with taking you at your word. we will have the kind of relationship where we can have a blunt, straight forward, fully disclosed working relationship. i think it is critical for us to provide oversight, the ability for us to have the right kind of agencies so we know where each other is and move forward together in terms of what needs to be done to provide intelligence to that needs to be done to protect the american people. i wanted to say that. i want to follo
you addressed it today in terms of trust deficit, you said that was unacceptable. you would give straight answers and be blunt and candid. it is not a prerequisite to do that to be director of c.i.a. so i don't hold that as -- it would probably be a red flag if someone had that award and wanted your position. the kind of issues you have to deal with require straight talk, straight answers, and getting to the chase real quickly. you said it is the new jersey way, i accept that, it is bipartisan....
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Feb 6, 2013
02/13
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MSNBC
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it doesn't meet the entire deficit, if you will. they're losing $16 billion a year, and this is important. you've got to understand why they're losing it. the biggest reason they're losing so much money is because they, unlike any other government entity, they are forced to pay in advance for the retirement medical benefits of their retirees even before they retire. so as a result, that huge chunk of cash that they have to set aside is costing them a fortune and it is a huge drag on the postal service. second to that, yes, all of us are using e-mail and paying our bills online. and therefore first class mail has dropped off a cliff. however, package delivery has increased dramatically because you and i are shopping online and all of those packages are sent to our homes. so that's been up 14% over two years. so in the view of many, this is the postal service trying to force the hand of congress. congress has had this on their agenda for years and has failed to act, even though the postal service year after year after year comes out a
it doesn't meet the entire deficit, if you will. they're losing $16 billion a year, and this is important. you've got to understand why they're losing it. the biggest reason they're losing so much money is because they, unlike any other government entity, they are forced to pay in advance for the retirement medical benefits of their retirees even before they retire. so as a result, that huge chunk of cash that they have to set aside is costing them a fortune and it is a huge drag on the postal...
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the first of less than $1 trillion annual deficits continue to shrink when they begin increasing deficits but in the next 10 years they will add almost $7 trillion to the national debt and 76 trillion by 20203. the national debt compared to the economy stabilizes and climbs much higher in the future. the director of the cbo says the primary culprit is health care spending. >> we still see substantial growth of health care spending over the 10 years and beyond. because of the number of people who will be eligible for medicare will be rising sharply. gerri: they expect gdp to rise this year and next year an average of 3.6% after that and then slowing. cbo expects unemployment average 8% this year and seven points six% next year that is the first time that has happened in 70 years. with the recent tax increases and spending cuts the cbo says it will cost 1.2 5% percentage points of gdp but with deficits reduce it boost growth and employment in the future. gerri: while the cbo war and gas the president tried to put the squeeze on congress to pass small spending cuts and pass more tax hikes. w
the first of less than $1 trillion annual deficits continue to shrink when they begin increasing deficits but in the next 10 years they will add almost $7 trillion to the national debt and 76 trillion by 20203. the national debt compared to the economy stabilizes and climbs much higher in the future. the director of the cbo says the primary culprit is health care spending. >> we still see substantial growth of health care spending over the 10 years and beyond. because of the number of...
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Feb 3, 2013
02/13
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WBAL
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you know, as somebody who has worked with budgets throughout my life, in order to deal with the deficit problem, you've got to deal with entitlements. you have to deal with revenues. and you have to deal with discretionary. all of it has to be part of a package. >> is he doing enough? >> i think he's pushing as hard as he can. >> should he be more public? >> well, look. the president of the united states has indicated the concern about sequester. he's indicated his concern about maintaining a strong national defense. and he's proposed a solution to this. the ball is in congress' court. they have got to take action to delay sequester. >> i want to move on to some of the hot spots. we'll start in north africa. a lot of news this week. here is the a.p. headline. u.s. limited in fight against north african militants. the united states is struggling to confront an uptick in threats in the newest hot spot with limited intelligence and few partners to help as the obama administration weighs who you to keep islamic extremists from jeopardizing national security without launching war. we want to
you know, as somebody who has worked with budgets throughout my life, in order to deal with the deficit problem, you've got to deal with entitlements. you have to deal with revenues. and you have to deal with discretionary. all of it has to be part of a package. >> is he doing enough? >> i think he's pushing as hard as he can. >> should he be more public? >> well, look. the president of the united states has indicated the concern about sequester. he's indicated his...
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Feb 7, 2013
02/13
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CSPAN
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the deficit is a big problem. think about it. our national debt, $16.5 trillion. you think that is not a lot of money? count one number per second -- one number per second. how long will it take you to count to 16 trillion? 500-7000 years. -- 500-7000 -- 5700 years. here is a parable -- a family lands on hard times. the father comes to the five children and says, we will have to reduce your allowance. they are not happy about it, but he says, except for johnny and susan, they are special. they get to keep their allowance. in fact, we might give them more. how do you think that will go down? not too well. same thing happens. what about our taxation system? so complex, there is no one who can possibly comply with every tax issue. if i want to get you, i can get you on a tax issue. that does not make any sense. what we need to do is come up with something that is simple. when i pick up my bible, you know what i see? i see the fairest individual in the universe, god, giving us a system. called tight. we do not necessarily have to do it at 10%, but the principle. he di
the deficit is a big problem. think about it. our national debt, $16.5 trillion. you think that is not a lot of money? count one number per second -- one number per second. how long will it take you to count to 16 trillion? 500-7000 years. -- 500-7000 -- 5700 years. here is a parable -- a family lands on hard times. the father comes to the five children and says, we will have to reduce your allowance. they are not happy about it, but he says, except for johnny and susan, they are special. they...
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the numbers today are living short of terrific. $7 trillion in deficits over the next ten years. is coming after we raise 600 billion in taxes. what does the president say? well, let's not do the spending cuts, which we are counting on to keep it down to 7 trillion. instead to raise taxes, which we already proven does not solve the problem. you have to have a pretty good sense of humor to like it that seriously. lou: and to look at you have to have a pretty good sense of humor to put this in context of the history of this president and fiscal issues. does not pose for the budget. the senate has not passed one commend the president of the united states said this back in 2011. november 41st. already, he said, some in congress are trying to undo these automatic spending cuts, much like he did today at 115 eastern time. my message to them back in 2011, no, i will be there through any effort to get rid of automatic spending cuts to domestic and defense spending said the break president at that point. your reaction? >> that was president obama circa 2011. candid obama in a debate set s
the numbers today are living short of terrific. $7 trillion in deficits over the next ten years. is coming after we raise 600 billion in taxes. what does the president say? well, let's not do the spending cuts, which we are counting on to keep it down to 7 trillion. instead to raise taxes, which we already proven does not solve the problem. you have to have a pretty good sense of humor to like it that seriously. lou: and to look at you have to have a pretty good sense of humor to put this in...
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Feb 6, 2013
02/13
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we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year. that's compared to $1.1 trillion short fall. the outlook predicts the improvements will not last. it warns that an aging population will drive up retirement spending and rising interest rates will put the debt at unsustainable level it's current laws remain in place, debt by 2023 will equal 77% of gross domestic product. that is roughly double the 39% average seen over the past 40 years. >>> coming off the republicans' bruising defeat, eric cantor is looking to rebrand his party n a speech at a d.c. think tank, he moved away from his combative tone expressing a need to work on issues with president obama impor
we believe there is a better way to reduce the deficit but americans do not support sacrificing real spending cuts for more tax hikes." >>> efforts by the white house to head off spending cuts come as a new government report predicts the budget deficit will drop below $1 trillion for the first time during obama's presidency. the congressional budget office which assumes that the cuts will go into effect march 1st says the government will run a deficit of $845 billion this year....
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so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hike in taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers. i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he surrendered because he's more worried about the country's debt and the ratings agencies make. in a short video french communists put together some of our lawns major presidential campaign none of which they say came true. look what that's going to be oh the value added tax increase. i think it's an appropriate and unjustified and unreasonable and too hasty. what happened to well that's to remind a present with you remember you promised to review the european treaty you didn't do that here in germany said a three percent deficit isn't real but now only say it's possible etc etc you can't not do what you promised m
so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hike in taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers. i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he surrendered...
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Feb 1, 2013
02/13
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CSPAN2
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i said it before, the the retirement income deficit. the difference between what people need for their retirement in the future, and what they actually now has been estimated to be as high as $6.6 trillion. half of all americans have less than $10,000 in savings. so these are disturbing and frightening numbers. when people run out of money when they get old, they see the living standard decline and lean more and more on the social safety net. squeezing government costs at levels. it comes back on taxpayers again. we need do more to help american families cope with this looming crisis. hard working americans deserve to be able to rest and take a vacation and spend more time with the grand kids when they get older. but to do so, they need to have better opportunities, opportunities to save prior to retirement. we have always said there knees to be -- needs to be a three-legged stool with pension, social security, and savings. with social security provided a base, but it was never meant to be a full retirement system. it was to be one leg
i said it before, the the retirement income deficit. the difference between what people need for their retirement in the future, and what they actually now has been estimated to be as high as $6.6 trillion. half of all americans have less than $10,000 in savings. so these are disturbing and frightening numbers. when people run out of money when they get old, they see the living standard decline and lean more and more on the social safety net. squeezing government costs at levels. it comes back...
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so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hiking taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers or complain but i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he surrendered because he's more worried about the country's debt and the ratings agencies make. in a short video french communists put together some of our lawns major presidential campaign vows none of which they say came true. but what that's all that if you know the value added tax increase. i think it's an appropriate and unjustified and unreasonable and too hasty. what happened to well that's to reminded present was do you remember you promised to review the european treaty you didn't do that here in germany set a three percent deficit isn't real but now only say it's possible etc etc you can't n
so-called three percent treaty force in france to reduce its budget deficit down from four point five percent by hiking taxes and cutting spending. but while harsh criticism expected from the opposition disapprovals also been growing from like minded left wingers or complain but i think the president especially of a country like france one of six e.u. founders should be strong enough to say stop to others and say hey i have my nation behind me and they elected me to make changes instead he...
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Feb 6, 2013
02/13
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WMAR
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of the report shows the city will accumulate a $745 million budget deficit over the next decade because of a growing gap in how much the city earns and the amount it spends. that deficit would be even bigger at $2 billion if you factor in what the city needs for infrastructure repairs and retiree healthcare benefits. according to the report, if the city does not enact major reforms, it will go bankrupt. the 10-year forecast was commissioned by the city from an outside firm in philadelphia. mayor rawltings blake is expected to propose financial reforms next week based on that report. linda stow, abc 2 news. >>> thousands of people are celebrating the raven's super bowl win, violence hit the streets of baltimore. just two ploks from pratt street, police say a fight led to a triple stabbing and that a teenager is dead. this happened around 1:30 yesterday afternoon at the corner of howard and fayette. the teens were between the ages of 15 and 16 years old. one teen is in critical condition, the other is in serious condition. abc 2 news has found a memorial page for one of the teens, that te
of the report shows the city will accumulate a $745 million budget deficit over the next decade because of a growing gap in how much the city earns and the amount it spends. that deficit would be even bigger at $2 billion if you factor in what the city needs for infrastructure repairs and retiree healthcare benefits. according to the report, if the city does not enact major reforms, it will go bankrupt. the 10-year forecast was commissioned by the city from an outside firm in philadelphia....
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Feb 5, 2013
02/13
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CNBC
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saying deficits decline as a percentage of gdp could dip as low as 2.4% in 2015. then they start to rise again in 2016. that 10-year-old cbo deficit projection increased overall to 4.6 trillion for the 2013 decade up from $20.2 trillion in it's previous. cbo sees real gdp growing 1.4% in 2013, the sub died growth limits businesses to hire more workers, cbo projecting unemployment rate to stay near 8% this year, also expecting unemployment rate to remain above 7.5% through 2014. debt and deficits will be larger, the cbo says, if current laws were modified and rising health care cost and increased federal health care subsidies, spending cuts and higher taxes with offset deficit increases long-term says the cbo. over and over again this report talks about those short-term budget decisions on the horizon including march 1st, the automatic spending reductions, sequester. what does congress and the white house do about the expiring continuing resolution in late march, funding for the operations of government and, divorce, the next round of the debt limit debate due to h
saying deficits decline as a percentage of gdp could dip as low as 2.4% in 2015. then they start to rise again in 2016. that 10-year-old cbo deficit projection increased overall to 4.6 trillion for the 2013 decade up from $20.2 trillion in it's previous. cbo sees real gdp growing 1.4% in 2013, the sub died growth limits businesses to hire more workers, cbo projecting unemployment rate to stay near 8% this year, also expecting unemployment rate to remain above 7.5% through 2014. debt and...
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Feb 9, 2013
02/13
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this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had throw years of recovery relative to europe. if we're ever going to take the hit this is a better time to take t if this were three years ago, i would be arguing right with you. i think we can take a chance. when are we going to get the chance to take these cuts in the pentagon or take a bite out of the deficit? i think it's worth it. >> now twittering dean quester. >> if he would stop blaming someone else other than himself and man up and take responsibility. >> kris hayes, i'm sure your guests will have much more explaining on kicking the can down the road. >> thank you. >>> ousted fox news contributor says he's on a mission fo
this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had...
43
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Feb 6, 2013
02/13
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MSNBC
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blue bars are president obama's deficits. those really big bars are when the whole world economy crashed, including ours. remember that? you notice how the deficit gets smaller when the bars are blue over time? see how they're getting shorter as you go to the right? today the congressional budget office released their deficit projection for 2013. so for this upcoming year, the nonpartisan cbo. according to them under president obama the deficit is slated to continue to shrink, as it has been under president obama. but the supposedly gigantic growth of those deficits is why congressional republicans are >>> in march 2007, some of the fine folks at morgan stanley were brainstorming via e-mail about what they wanted to call a new product they were working on. it was an investment package essentially that they would eventually go on to sell to a chinese bank. here are some of the potential product names that were suggested in this brainstorming session by a particular morgan stanley vice president. flutter fish 2007, or mike tyso
blue bars are president obama's deficits. those really big bars are when the whole world economy crashed, including ours. remember that? you notice how the deficit gets smaller when the bars are blue over time? see how they're getting shorter as you go to the right? today the congressional budget office released their deficit projection for 2013. so for this upcoming year, the nonpartisan cbo. according to them under president obama the deficit is slated to continue to shrink, as it has been...
121
121
Feb 1, 2013
02/13
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CSPAN
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guest: we usually do not talk about trust deficits. talk about trade, budget deficits, things we can measure. i'm talking about a breakdown of trust in american society, in particular in the institutions that make our economy go. when you look at measures of trust from surveys like a gallup or the pugh institute -- the pew institute, or even newspapers, congress, large corporations, banks, public schools, they have all been going down for many years. for a lot of them, this decline in trust was intensified leading up to and going into the financial crisis. there are a lot of reasons for these things we can talk about. what we were trying to get at in the story that -- is that this matters to the economy, and trust breaks down. there was nobel prize-winning economist who 40 years ago said that every commercial transaction has within it an element of trust. when you trust your counter party, you're more likely to engage in a transaction. when trust begins to fray, and people become suspicious of each other and each other's intentions, it
guest: we usually do not talk about trust deficits. talk about trade, budget deficits, things we can measure. i'm talking about a breakdown of trust in american society, in particular in the institutions that make our economy go. when you look at measures of trust from surveys like a gallup or the pugh institute -- the pew institute, or even newspapers, congress, large corporations, banks, public schools, they have all been going down for many years. for a lot of them, this decline in trust was...